Audit Committee - Insurance Company Limited - June 24, 2014

Meeting Info

Date:Monday, June 23, 2014

Start Time:10:30 am

Location:Committee Room 2, 2nd Floor Toronto City Hall, 100 Queen Street West

Meeting No:7

Previous Meeting Minutes

Download Agenda

(23/04/2021)

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Agenda
Meeting Minutes

Members

Chair Peter Milczyn
Vice-Chair John Parker
Karen Stintz
Brian Leck
Michael Roche
Vincent Rodo

Members

Chair Peter Milczyn
Vice-Chair John Parker
Karen Stintz
Brian Leck
Michael Roche
Vincent Rodo

Declaration of Interest - Municipal Conflict of Interest Act

Resolution to conduct a portion of the meeting in the absence of the public (Committee Of The Whole) in accordance with Section 29 of the TTC by-law to govern Commission proceedings and Section 190 of the City of Toronto Act

Education/Training (TTC Procedural By-Law Section 29(B) and City of Toronto Act Section 190 (3.1)

Nil

Minutes of the Previous Meeting

Meeting Minutes June 24, 2013

Business Arising Out of Minutes

Nil

Public Presentations

Requests to speak must be registered by 12:00 Noon of the business day preceding meeting day.

Notices of Motions

Nil

Motions Without Notice

Nil

Items of Which Notice has Previously Been Given

Nil

Items Deferred From Last Meeting to Permit Debate/Public Presentation

Nil

1. Reports with Confidential Attachments

Nil

2. Presentations

Nil

3. Other Business

4. New Business

Nil

5. Correspondence

A correspondence summary will be distributed at the meeting.

A meeting of the TTCICL Audit Committee was held in Committee Room 2, 2nd Floor, City Hall, 100 Queen Street West, Toronto, on Tuesday, June 24, 2014 at 10:58 a.m. for the purpose of discussing business related to the Company.

Present

J. Parker (Vice Chair - TTCICL), K. Stintz (Director), A. Heisey, (TTC Commissioners), M.A. Roche (Treasurer), B.M. Leck (General Counsel), M. Ferreira (Secretary), J. Taylor (TTC Chief of Staff), K. Lee (TTC Head of Commission Services), D. McDonald (Co-ordinator – Corporate Secretariat), J. Cheng (J.S. Cheng & Partners), and S. Ewert and N. Maraj (PricewaterhouseCoopers LLP) were present.

In this section

Declaration of Interest - Municipal Conflict of Interest Act

Nil

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Minutes of Previous Meetings

TTCICL Audit Committee Meeting No. 6 – June 24, 2013

The Audit Committee reviewed and approved the minutes of the above mentioned meeting and authorized the Chair and Secretary to sign the same.

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Business Arising Out of the Minutes

Nil

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Committee Of The Whole Resolution

Nil

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Public Presentations

Nil

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Notice of Motions

Nil

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Motions Without Notice

Nil

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Items of Which Notice Has Previously Been Given

Nil

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Items Deferred From Last Meeting to Permit Debate/Public Presentations

Nil

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1. Reports with Confidential Attachments (Committee Of The Whole)

Nil

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2. Presentations

Nil

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3. Other Business

(a) PricewaterhouseCoopers Audit Results - 2013

The Audit Committee received the letter from PricewaterhouseCoopers LLP expressing their opinion on the 2013 financial statements.

(b) Draft Financial Statements of TTC Insurance Company Limited For The Year Ended December 31, 2013

The Audit Committee received the draft financial statement for the year ended December 31, 2013 and recommended that the statement be forwarded to the Director’s Meeting.

The Audit Committee approved the following recommendations:

Appoint PricewaterhouseCoopers LLP to perform the 2014 financial year-end audit of TTC Insurance Company Limited at an estimated cost of $16,283 and;
Forward this report to the Shareholders for approval.

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4. New Business

Nil

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5. Correspondence

Nil

The meeting adjourned at 11:04 a.m.

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